Trucking Insurance Basics: What Every Trucking Business Needs to Know
- Greg Corbitt
- Jan 17
- 2 min read
Updated: Jul 30
Trucking businesses serve a vital purpose in our economy, but they may carry, significant risks, including accidents, cargo theft, and breakdowns. Trucking insurance helps protect your assets, employees, and reputation. Here’s a breakdown of the coverage you need.
Types of Coverage
Primary Liability Insurance: Required by law, primary liability insurance covers damage or injury to a third party caused by your truck.
Physical Damage Coverage: Physical damage insurance will pay for repairs or replacement to your truck if it is damaged in an accident or if it is vandalized or stolen.
Cargo Insurance: Cargo insurance protects the goods you transport against loss or damage.
Bobtail Insurance: Bobtail insurance protects you when you drive without a trailer for personal reasons.
General Liability Insurance: Where Primary Liability Insurance covers liability claims resulting from driving trucks, General Liability offers protection against other types of liability claims, such as trip-and-falls at your business site.
Workers’ Compensation: Workers’ Compensation covers medical expenses and lost wages for employees injured on the job.
Umbrella Insurance: Umbrella Insurance provides higher liability limits above your primary limits.
Factors Affecting Costs
The premiums for trucking insurance depend on the type of truck, driver history, cargo, routes, and safety measures. Newer trucks, clean driving records, and safety programs can lower premiums.
How to Choose the Right Policy
You are in the trucking business, not the insurance business. Seek the counsel of an experienced agent to assess your business needs, scour the marketplace, and provide you with a proposal created and designed just for your business. Our trucking team of experts specializes in tailored trucking insurance solutions that provide peace of mind, whether you’re on the road or at the loading dock.
Greg Corbitt is the Chief Sales Officer at Knight Insurance Group. He specializes in working with transportation and logistics companies.
